I've had a chance to sleep on it and this is where we are.
-A chairman and CEO who've said that the company will disappoint...so no new buyers of the stock for 6-12 months from funds or investors. Traders? forget it.
-No plan to buy back stock or buy another company to grow the sales or earnings.
-A HOPE that the CAPex in R&D pays off long term but, the industries we've made this investment in are too risk to say if we'll get a return...but we hope.
This means every current investor is looking to sell at every level above current price if the stock does rise. Incredible overhead supply.
-No effort to talk about or let the market know what the company is doing...(no ASX releases for 4+ months when there WAS company news)
-Their 5 and 10 year sales and earnings records are flat to down.
-The Codan stock price over 1 year, 5 years, 10 years is...well down.
THE GOOD NEWS?...Every 2 weeks the board and management get paid their salaries. On ya!
In over 25 years I've never seen a management act like this after performing so bad on the share price.
Someone have a go at me...tell me I'm wrong and where I'm mistaken. Please.
CDA Price at posting:
87.0¢ Sentiment: Hold Disclosure: Held
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